Kumba Iron Ore (OTCMKTS:KIROY) Sees Strong Trading Volume - Here's What Happened

Key Points

• Kumba Iron Ore's stock saw a trading volume of 7,837 shares, an 11% decline from the previous session, with the stock last traded at $6.03.
• HSBC has downgraded Kumba Iron Ore's stock to a "hold" rating, contributing to an average rating of "Hold" for the company.
• The company recently declared a dividend of $0.2254, leading to an impressive dividend yield of 859.0%.

Shares of Kumba Iron Ore Ltd. (OTCMKTS:KIROY - Get Free Report) saw strong trading volume on Monday . 7,837 shares changed hands during mid-day trading, a decline of 11% from the previous session's volume of 8,797 shares.The stock last traded at $6.03 and had previously closed at $6.13.

Analysts Set New Price Targets

Separately, HSBC cut shares of Kumba Iron Ore to a "hold" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Kumba Iron Ore currently has an average rating of "Hold".

Kumba Iron Ore Trading Down 0.3%

The business has a fifty day moving average of $5.86 and a 200 day moving average of $5.81.

Kumba Iron Ore Cuts Dividend

The business also recently declared a dividend, which was paid on Thursday, September 4th. Stockholders of record on Monday, August 25th were issued a $0.2254 dividend. This represents a dividend yield of 859.0%. The ex-dividend date of this dividend was Friday, August 22nd.

Kumba Iron Ore Company Profile

Kumba Iron Ore Limited, together with its subsidiaries, engages in the exploration, extraction, beneficiation, marketing, sale, and shipping of iron ore for the steel industry primarily in South Africa, China, rest of Asia, Europe, the Middle East, and North Africa. It produces iron ore at Sishen and Kolomela mines in the Northern Cape Province.

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